According to a sector update, the investment bank’s recommendation on Mowi is upgraded from hold to buy, while the price target on Bakkafrost and Salmones Camanchaca is downgraded. The price target for Mowi is kept unchanged at NOK 250, while Bakkafrost is lowered to NOK 625 (from NOK 650) and Salmones Camanchaca is downgraded from NOK 45 to 40.
At the same time, Arctic has raised its estimate for salmon prices in the first half of 2022 by around NOK 4 (€0.40) per kilo.
Read also: A tight salmon market is expected for 2022, but should one buy Mowi?
“Our estimate adjustments are somewhat offset by higher costs as commodity prices increased steadily through 2021,” wrote the investment bank, which highlights SalMar, Lerøy Seafood Group, Icelandic Salmon and Mowi.
Arctic expects global supply growth of 3.3 percent for 2022 and 2.5 per cent for 2023.
